It's like a tautline hitch, but it slips very little to not at all.
But it's easy to adjust and move around to get it where you want. I
use the fold-over the end with a double sheetbend method on my
hammocks and used the adjustable grip hitch on the tree straps. It
worked really well even though I was using slippery polypropylene
rope. I noticed if you really abuse it (like kids swinging on it and
jumping up and down in it) it will slip a little tiny bit; but not
enough to really cause a problem. It's really easy to tie and untie,
especially if you "slip it" like I did.

If you fall on your hammock and really hit it hard, it will act like
a shock absorber and slip a little to reduce the shock. It might
save some wear and tear on a nice hammock.

For the "for what it's worth department." Try it, you might find it
useful.

Doug Campbell

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